Business Update15 May 2026, 07:31 am
Centum Electronics: No Deviation in QIP Proceeds Utilization
AI Summary
Centum Electronics Ltd. reported no deviation or variation in the utilization of proceeds from its Qualified Institutions Placement (QIP) as of March 31, 2026. The QIP, which raised ₹2,100 million on March 13, 2025, was intended for repayment of borrowings, capital expenditure, and general corporate purposes. Crisil Ratings Limited is the monitoring agency. The Audit Committee reviewed and the Board took on record the statement of deviation at meetings held on May 13 and 14, 2026.
Key Highlights
- Centum Electronics reports no deviation in QIP proceeds utilization as of March 31, 2026.
- QIP raised ₹2,100 million on March 13, 2025, for debt repayment, capex, and corporate purposes.
- Audit Committee reviewed and Board approved the statement of deviation.
- Original allocation for debt repayment was ₹1,149.92 million, with no deviation.
- Crisil Ratings Limited is the monitoring agency for the QIP proceeds.
Price Impact
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